Pareto-efficiency and endogenous fertility: a simple model - HAL-SHS - Sciences de l'Homme et de la Société Accéder directement au contenu
Article Dans Une Revue Mathematical Population Studies Année : 2009

Pareto-efficiency and endogenous fertility: a simple model

Résumé

This article is devoted to the study of the Pareto-efficiency of the competitive equilibrium for a simple overlapping generations economy with endogenous fertility. For CES utility and production functions, it is proved that the economic properties of the economy are closely related to the two elasticities
of substitution. First, the competitive equilibrium exists and is unique if the sum of the two elasticities is not smaller than one. Secondly, a set of parameters is provided such that the equilibrium is both in under-accumulation and inefficient. Thirdly, a sufficient condition is proved that ensures that an equilibrium converging in under-accumulation is Pareto-efficient: the sum of the two elasticities must not be greater than two.
Fichier principal
Vignette du fichier
parendofecmpsrev.pdf (204.4 Ko) Télécharger le fichier
Origine : Fichiers produits par l'(les) auteur(s)
Loading...

Dates et versions

halshs-00306463 , version 1 (25-07-2008)

Identifiants

Citer

Philippe Michel, Bertrand Wigniolle. Pareto-efficiency and endogenous fertility: a simple model. Mathematical Population Studies, 2009, 16 (1), pp.36-59. ⟨10.1080/08898480802619587⟩. ⟨halshs-00306463⟩
156 Consultations
421 Téléchargements

Altmetric

Partager

Gmail Facebook X LinkedIn More